One of the first things you should do to gain some control of your financial situation is sign up for online banking if you have not already done so.   It is extremely easy to do, and has so many benefits that I don’t know  how I could function without it. 

    Online banking allows you to track your spending with little ease, and you can a detailed picture of your cash flow.  It is open 24 hours a day, so you have instant access to your accounts whenever you need it.  

    With automatic bill-paying, you don’t have to worry about sending the bills out every month.  A one-time setup will automate the process and all you have be concerned with is having enough money in your account on the day the phone bill gets deducted.  Heck, you will rarely need your checkbook anymore.  Almost all retailers accept debit cards now, and for those occasions when a debit card won’t suffice, a quick stop to the ATM for some cash should do it.

    You can see your savings growing easier.  When you deposit your earnings into your checking account, it takes about 2 minutes to transfer some of that money into a separate savings account.  It is also easier to  set up and fund other accounts online.  For example, a PayPal account or a brokerage account is much easier to open and funnel money through with online banking.  Every time I deposit money in the bank I keep some in checking, put some away in savings, and transfer the third portion to my TdAmeritrade account.  It is so easy and fast to keep up on my financial picture this way and see your savings grow.

    If you still keep up on your bank accounts through those monthly statements and checkbook balancing, it’s time to sign up for this awesome service.  If you haven’t already, do it now!